 "Hitachi to set up auto component plant in Chennai")
Japan’s Hitachi Automotive Systems today inaugurated its Rs 313-crore automotive components and system plant in Chennai. The facility is located inside OneHub, an integrated township near here.
Kunihiko Ohnuma, chairman and CEO, Hitachi Automotive Systems Ltd, said the plant would produce valve timing control systems (VTCs) and ignition coils from October this year, and added the range of products would be expanded going ahead.
He said the company would focus on new product expansion through cross-selling, global partnerships and through strengthening the supply system. “While we will continue to utilise our global network to expand business, we also want to accelerate local production for local consumption in order to meet the needs of customers more effectively," said Ohnuma.
"We are aiming at Rs 390 crore revenue from the plant in the financial year 2020. It is a nine-fold increase from the expected Rs 43 crore in the fiscal 2015, and to be among the top three makers," he said.
Bradley J Maggard, senior vice president and general manager of international sales division and India business, said they had chosen Tamil Nadu for its major automobile hubs. Hitachi's global customers like Ford, Nissan and Hyundai have their manufacturing facilities in Chennai.
Kunihiko Ohnuma, chairman and CEO, Hitachi Automotive Systems Ltd, said the plant would produce valve timing control systems (VTCs) and ignition coils from October this year, and added the range of products would be expanded going ahead.
He said the company would focus on new product expansion through cross-selling, global partnerships and through strengthening the supply system. “While we will continue to utilise our global network to expand business, we also want to accelerate local production for local consumption in order to meet the needs of customers more effectively," said Ohnuma.
"We are aiming at Rs 390 crore revenue from the plant in the financial year 2020. It is a nine-fold increase from the expected Rs 43 crore in the fiscal 2015, and to be among the top three makers," he said.
Bradley J Maggard, senior vice president and general manager of international sales division and India business, said they had chosen Tamil Nadu for its major automobile hubs. Hitachi's global customers like Ford, Nissan and Hyundai have their manufacturing facilities in Chennai.